Joann, the iconic crafts retailer, has announced the closure of all its U.S. stores, leaving customers and employees in shock.
Find out why the 82-year-old company is shutting down and what it means for shoppers with gift cards.
Joann’s Sudden Closure: A Crafting Giant Falls
Joann Inc., a beloved name in the arts and crafts industry, is officially shutting down all its U.S. stores just one month after filing for Chapter 11 bankruptcy.
The retailer, which has been a go-to destination for DIYers and sewing enthusiasts for over eight decades, cited overwhelming debt and supply chain disruptions as key factors behind its downfall.
While many hoped the company would find a buyer to keep operations running, Joann has instead opted to liquidate all assets, triggering massive store closures nationwide.
What Led to Joann’s Bankruptcy?
The company’s financial troubles were no secret. In January 2025, Joann reported a staggering $615.7 million in debt, including over $133 million owed to suppliers.
The retailer also struggled with:
- High operating costs: Monthly rent alone cost the company around $26 million.
- Supply chain disruptions: Key suppliers cut off certain products, impacting inventory.
- Declining sales: Despite efforts to maintain its 800+ stores, demand fell.
These factors forced the company to file for bankruptcy and begin store closures earlier this year.
Joann Store Closures: What Customers Need to Know
Joann’s liquidation means all remaining stores will close in the coming weeks.
The retailer had already begun closing 500 locations in January as part of its restructuring efforts, but the latest announcement confirms that no stores will survive the shutdown.
Gift Card & Return Policy Updates
- Joann gift cards will only be valid until February 28, 2025—shoppers are urged to use them before it’s too late.
- Returns and exchanges may be limited as stores wind down operations.
How Joann’s Collapse Affects the Retail Industry
The closure of Joann is yet another sign of how challenging the retail landscape has become.
Over the past year, several major chains, including Party City and Bed Bath & Beyond, have struggled with bankruptcy as consumer spending habits shift and online competitors take a larger share of the market.
For craft lovers, Joann’s shutdown is a huge loss, as it was one of the few remaining retailers offering a wide selection of fabrics, yarns, and DIY supplies.
What’s Next for Joann’s Employees?
The company employed nearly 19,000 workers across the U.S. Now, thousands of employees are left uncertain about their future.
While Joann has promised to phase out closures to minimize disruption, many workers will need to find new jobs in the coming weeks.
Final Thoughts: The End of an Era for Crafting Enthusiasts
Joann’s closure marks the end of an era for crafters and DIY enthusiasts.
Whether you relied on the store for sewing projects, home décor, or holiday crafts, this news is a significant blow.
For now, shoppers should use any remaining gift cards before February 28 and take advantage of any liquidation sales before stores officially shut their doors for good.
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Follow us for the latest updates on any news. Will another company step in to revive Joann’s legacy? Only time will tell.
